Investor inattention and the underreaction to stock recommendations
Investors’ reaction to stock recommendations is often incomplete so that there is a predictable post-recommendation drift. I investigate investor inattention as a plausible explanation for this drift by using prior turnover as a proxy for attention. I find that low attention stocks react less to sto...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2010
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| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3031 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4030/viewcontent/SSRN_id1089773.pdf |
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| Institution: | Singapore Management University |
| Language: | English |